The schilling was the currency of Austria from 1924 to 1938 and from 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it. The schilling was divided into 100 groschen.
The schilling was established by the Schilling Act
(Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 schilling
to 10,000 Austro-Hungarian Kronen and issued on March 1, 1925.
Obverse: Railway
designer Carl Ritter von Ghega (1802-1860)
Reverse: Semmering -
mountain pass in the Eastern Northern Limestone Alps connecting Lower
Austria and Styria
Although the euro became the official currency of Austria in 1999, euro coins
& notes were not introduced until 2002. Old schilling denominated
coins & notes were phased out from circulation because of the introduction of the euro
by 28 February of that year. Schilling banknotes & coins which were
valid at the time of the introduction of the euro will remain
exchangeable for euros at any branch of the Austrian National Bank (Oesterreichische Nationalbank) indefinitely.
